empty
 
 
rs
Podrška
Trenutno otvaranje računa
Trgovačka platforma
Depozit/Povlačenje

07.10.202414:48 Forex Analysis & Reviews: XAG/USD. Analysis and Forecast

Relevance up to 05:00 2024-10-08 UTC--4

Exchange Rates 07.10.2024 analysis

Silver starts the new week on a weaker note, continuing to pull back from the highest level reached since December 2012 on Friday. Recent repeated failures to break through the $32.00 level on the daily chart represent the formation of a bearish multiple top pattern. Meanwhile, the oscillators on the daily chart remain comfortably in positive territory, supporting the potential for buying on declines in the $31.75 level. This should limit the decline of the white metal to the horizontal support at $31.45.

A drop could pull the commodity down to $31.00. Some subsequent sales below last week's low in the $30.90 level would make the XAG/USD pair vulnerable to further acceleration toward the intermediate support at $30.70, then $30.25, on the way to the psychological level of $30.00, followed by the 100-day and 50-day simple moving averages (SMA).

However, to position for an extension of the two-month uptrend, bulls need to wait for firm strength above the $32.00 level and sustained momentum beyond the supply zone at $32.25. Then, the XAG/USD pair may attempt to conquer the round level of $33.00 before rising further to the December 2012 swing high at $33.85.

Exchange Rates 07.10.2024 analysis

This mixed technical setup suggests caution before placing aggressive bearish positions.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2024
Iskoristite preporuke analitičara upravo sada
Dopunite trgovački račun
Otvori trgovački račun

Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.

Ne možete da razgovarate sada?
Postavite pitanje kroz ćaskanje.